The round was led by Alpha Wave Incubation and saw participation from Sequoia Capital India’s Surge, January Capital, Titan Capital and other angel investors. The funds raised will be used for deeper investment in technology and product, to enhance the overall experience of the students and to accelerate global expansion.
Educational technology platform Kyt has raised USD $5 million in a Series A funding round. The investment is led by Alpha Wave Incubation (AWI), a venture fund managed by Falcon Edge Capital and saw participation from Sequoia Capital India’s Surge, January Capital, Titan Capital and other angel investors. Kyt is the first Indian company to receive investment from Singapore based January Capital.
As part of this investment from AWI, Kyt will expand its operations to Abu Dhabi and use the Emirate as its regional headquarters for targeting the GCC, MENA and other global markets. Kyt will also build a world-class team of data scientists, product managers and engineers located in Abu Dhabi.
Founded in June 2020, Kyt runs online-only extracurricular courses by combining live classes with video-based revision materials for children from ages 5 to 15 years, in a full-stack model. With flexible private and small group sessions, Kyt offers courses across disciplines such as yoga, dance, music, chess, etc., to students around the world.
The funds raised will be used for deeper investment in technology and product, to enhance the overall experience of the students and to accelerate global expansion. Kyt already has students from India, UAE and Singapore and is looking to scale its footprint to the US, Canada, UK and Australia.
“With Kyt, we are going beyond the conventional academic learning by building an academy that nurtures holistic and all-round development of children. It is essential to foster children’s interests and encourage learning that equips them with creative and real-world skills; thereby molding their individual strengths and making them more confident. This new investment will greatly boost our efforts in providing a well-structured curriculum, designed by pedagogy experts and education consultants to help each child realise their potential,” said Bhavik Rathod, Co-founder & CEO, Kyt.
The platform has more than 20 teachers onboard, with plans to increase this to 500 over the next 12 months. With head offices in India and Singapore, Kyt was founded by husband-wife duo Bhavik Rathod and Tripti Ahuja. Kyt is also backed by prominent angel investors including Allen Penn, Kunal Bahl, Rohit Bansal, Amrish Rau, Kunal Shah, Jitendra Gupta, Martin Li, Apremeya Radhakrishna, Anand Chandrasekaran and Akhil Paul.
Source: Business World
